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Level 1
March 11, 2021
Solved

Grant Income from CARES Act

  • March 11, 2021
  • 2 replies
  • 29 views

Where Is the grant income businesses received for Covid relief entered on 1120-S and 1065

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Best answer by qbteachmt

If you are asking about State, County, or local entity grants, they are ordinary business income.

2 replies

qbteachmt
qbteachmtAnswer
Level 15
March 11, 2021

If you are asking about State, County, or local entity grants, they are ordinary business income.

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qbteachmt
Level 15
March 11, 2021

The filing State might treat it differently than Feds, of course. I didn't notice this was in "AMA." Sorry.

Don't yell at us; we're volunteers